President Barack Obama with White House Chief of Staff Jack Lew on his way to board Marine One.

President Barack Obama may announce this week the selection of White House Chief of Staff Jack Lew as Treasury secretary to replace Tim Geithner, according to people familiar with the matter.

The U.S. Supreme Court will hear arguments on when the SEC’s chance to prosecute cases expires, as two Gabelli Funds LLC officials contend the agency was too late in its claims that they improperly let a client engage in market timing, a practice of making frequent, short-term trades at the expense of other investors.

American Petroleum Institute chief Jack Gerard delivers an address on the state of the oil industry. Oil was little changed in early trading today amid concern that Congress will fail to raise the U.S. debt ceiling, hurting economic confidence, and on speculation that supplies in the world’s biggest crude-consuming country will rebound.

Also today, the Corporate Reform Coalition holds a conference call to discuss a proposed SEC rule that would require disclosure of corporate political spending. AdvanFort hosts a conference on maritime security and stopping piracy, with speakers including Retired Navy Rear Admiral Terry McNight. And Rep. Peter DeFazio, an Oregon Democrat. joins Google’s patent lawyer Suzanne Michel for a discussion on patent trolls at the CES technology conference in Las Vegas.
|Laura Curtis contributed to this report.